Single-Family Building Permits Continued Climb in June
INDIANAPOLIS (July 20, 2021) – The Builders Association of Greater Indianapolis (BAGI) announced that in Central Indiana’s nine-county area, single-family building permits are up 33% over June of 2020 with 1034 permits compared to 779 the year prior, yielding a 46% cumulative increase year over year.
Single-family building permits are up 33% over June of 2020.
“With material pricing and inventory so irregular, the new home market has also become unpredictable,” Steve Lains, CEO of the Builders Association of Greater Indianapolis said. “Builders are still seeing constraints on product availabilities and are also concerned about the opportunity to obtain approvals for projects in the future.”
Lains added that the steady, low interest rates continue to serve as the equalizer to offset increase in home prices, further pushing the demand and surge for new construction as it has for the last several months.
Each of the nine counties has seen an increase in permits issued when comparing to last year’s cumulative average. The most notable and rapid growth is Shelby County’s 329% jump from 7 permits issued in June 2020 to 30 in June 2021.
Shelby County saw a 329% jump from 7 permits issued in June 2020 to 30 in June 2021.
The Builders Association of Greater Indianapolis is a professional trade association representing residential homebuilders, associates and remodelers. For more information, call 317-236-6330; or visit www.BAGI.com/permits/ for permits numbers from 2000-2021.
HOMES BUILD OUR LOCAL ECONOMY – in 2020, new home construction created $1.55 billion in local income, over $352 million in local taxes, and 26,284 jobs.